Why Franchises Work

By Author: Elizabeth Miranda
Total Articles: 51
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A well-known brand identity can represent distinction in business. Working under the auspices of an recognized name can garner considerable benefits for franchise holders. The franchisee will find that this expedites many businesses processes as they do not need to consider promotion or marketing campaigns - their prospective clients are probably already aware of the company's existence. This is vastly beneficial as consumers notoriously feel an affiliation for certain corporate identities, and are prone to remain loyal to known names, trusted products and/or services.

Being with associated with a pre-existing brand and market allows franchisees to take advantage of verifiably efficient modules together with a highly regarded business name. This means that many new comers start healthy trade on the very first day of their ventures.
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YOU CAN PUT ALL YOUR EGGS IN ONE BASKET

We've all familiar with the adage, Don't put all your eggs in one basket. In today's rather disturbing times of fiscal unrest this saying, though seemingly tired and somewhat clichéd, is ...
... rather apt. It stands to reason that it would be imprudent to take unnecessary risks in such unstable times. Yes. However

In a recession we must invest shrewdly, putting our eggs into safe baskets, ones that we know are sturdy and well made, with no hole in them. More importantly it is vital that they are conveyed by people who we trust not to drop them. In other words, while we're using the egg-basket allegory, - franchise works well due to the following facts:

The eggs represent your investment - your money.

The basket you put your eggs into is the franchise company's merchandise or services. - And, because you know the basket is designed to keep your eggs safe because it has a history of doing so for others.

The basket holder is the company itself. Bear in mind, the company has not dropped anyone's baskets yet, so this should instil confidence in you.
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DO ALL FRANCHISES WORK?

But do all franchises work? No. Naturally there are always exceptions to every rule. However, a far greater promise of success comes with a franchise, especially certain kinds of franchise.
Making sensible and informed decisions about franchise is paramount in a recession. Although it may seem practical to plump for for a franchise with a renowned fast food outlet or well-known retail brand for luxury goods, it honestly pays to ask yourself the following questions:

1. Will people be spend more money on take-out when they're feeling the pinch and trying to budget in a recession, or will they spend less?

2. Will they be splashing out on luxury goods or, like many of us in the same circumstances, will they be doing their best to economise?

Realistically, we would all concede that life's little luxuries are the first to be sacrificed when spending restrictions are put upon us. - Ready cooked meals and luxury items are acknowledged to be things we can all do without. Even well time-honoured companies in the above sectors will anticipate a significant dive in sales figures as the recession gets a grip. That's bad news for franchisees in those industries.

So, what type of franchises and business are predicted to prosper in a recession?
A major advancement in online business is foreseen. The World Wide Web continues to grow and is the initial resource for information that the majority of us turn to. But business achievements online are almost solely dependant on effective marketing.
This is when the expertise of a company like WSI is best put to use. WSI's many certified consultants have been assisting small and medium sized businesses achieve profitability online for over ten years. With the rapid expansion in the amount of businesses that wish to boost their online efficiency, the number of potential clients seeking this kind of service is expected to swell dramatically. Compared to luxury goods and products, key services like those provided by WSI consultants will be evermore in demand. That's what makes consultancy franchises with WSI the perfect type of franchises to consider today. Franchises really do work: you just need to make sure your eggs are in the right basket.